FMR LLC decreased its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,583,716 shares of the technology company's stock after selling 3,085,887 shares during the quarter. FMR LLC owned approximately 1.03% of Fortive worth $268,779,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Flossbach Von Storch SE boosted its stake in Fortive by 1.2% during the fourth quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company's stock worth $892,743,000 after buying an additional 137,479 shares during the period. Geode Capital Management LLC increased its holdings in Fortive by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 8,294,930 shares of the technology company's stock valued at $620,480,000 after purchasing an additional 103,015 shares during the last quarter. Boston Partners raised its position in Fortive by 2.1% in the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company's stock valued at $594,108,000 after purchasing an additional 166,123 shares during the period. Norges Bank acquired a new position in Fortive during the fourth quarter worth $412,445,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Fortive by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,014,318 shares of the technology company's stock worth $151,074,000 after buying an additional 49,529 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
FTV has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. BNP Paribas lowered shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price objective for the company. in a research note on Wednesday, April 9th. Wells Fargo & Company increased their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on shares of Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Monday, February 10th. Finally, Truist Financial reduced their price objective on Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $81.92.
Read Our Latest Report on FTV
Insider Activity at Fortive
In other news, SVP Stacey A. Walker sold 5,688 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the sale, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. This trade represents a 10.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James A. Lico sold 196,117 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now owns 528,851 shares in the company, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 in the last quarter. Company insiders own 1.01% of the company's stock.
Fortive Stock Performance
Shares of Fortive stock traded down $0.26 on Tuesday, hitting $65.75. The stock had a trading volume of 2,223,514 shares, compared to its average volume of 2,361,391. The company's 50 day moving average price is $74.92 and its 200 day moving average price is $76.18. The stock has a market cap of $22.37 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.68 and a beta of 1.12. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a 52-week low of $60.39 and a 52-week high of $83.66.
Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter last year, the firm earned $0.98 EPS. On average, research analysts anticipate that Fortive Co. will post 4.05 EPS for the current year.
Fortive Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, May 30th. Fortive's dividend payout ratio is currently 13.56%.
About Fortive
(
Free Report)
Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.
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